Nifty Bank Indexלונג
Huge opportunity in bank nifty for tomorrow
It's the daily time frame analysis of of bank nifty charts.
The concept used is the basic support and resistance breakout strategy.
It's seems basic but it really works.
Markets don't just moves straight in one direction, its the combination of various swings of highs and lows. Markets move directionally then retrace to some point and then again continues the trend. so similar pattern can also be observed in the bank nifty chart. so after making high of of 44150 round and then retracing to 41500 its now again rallying towards the high.
We can see that market has tested the level 43500 multiple times but was not able to break, and its now again standing at round 43450.
so the plan is very simple if the market opens flat tomorrow in range of 43450 to 43500 we can buy as it's crosses 43500 or its also possible that it open slight gap up in range of 43500 to 43600 then let it spend some time let's stay 10-20 mins and then crosses it above 43600, its bumper trade and we can expect targets of 200 -300 points with a stop loss of 50-70 points. or Another option is that we just trailer the stop loss upside with the increase and hold the position little as per the price action.
It's just my point of view , trade safe with risk management and at your own risk
The concept used is the basic support and resistance breakout strategy.
It's seems basic but it really works.
Markets don't just moves straight in one direction, its the combination of various swings of highs and lows. Markets move directionally then retrace to some point and then again continues the trend. so similar pattern can also be observed in the bank nifty chart. so after making high of of 44150 round and then retracing to 41500 its now again rallying towards the high.
We can see that market has tested the level 43500 multiple times but was not able to break, and its now again standing at round 43450.
so the plan is very simple if the market opens flat tomorrow in range of 43450 to 43500 we can buy as it's crosses 43500 or its also possible that it open slight gap up in range of 43500 to 43600 then let it spend some time let's stay 10-20 mins and then crosses it above 43600, its bumper trade and we can expect targets of 200 -300 points with a stop loss of 50-70 points. or Another option is that we just trailer the stop loss upside with the increase and hold the position little as per the price action.
It's just my point of view , trade safe with risk management and at your own risk
כתב ויתור
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